Direct Loans

• Statutory Authority

  • U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part D—William D. Ford Federal Direct Loan Program §§ 1087a – 1087j [HEA §§ 451 - 460]

• Regulations

  • 34 CFR Part 685

• ED References

  • 2019-20 FSA Handbook, Vol. 3
  • 2018-19 FSA Handbook, Vol. 3

• NASFAA Publications and Articles

  • NASFAA AskRegs Knowledgebase

    Search or browse the Knowledgebase for answers to regulatory and compliance questions submitted by financial aid administrators.

  • NASFAA Compliance Engine

    The Compliance Engine is comprised of two modules: the Self-Evaluation Checklists which allows administrators to evaluate their programs in a centralized, shared online space, and the P&P Builder, a tool designed to assist institutions in the creation and maintenance of a policies and procedures manual. Along with an online space to update and maintain policies and procedures, the P&P Builder includes legislation and regulation associated with compliance with Title IV requirements.

  • NASFAA U Authorized Events

    NASFAA U Authorized Events are a comprehensive set of instructional materials for teaching financial aid concepts to groups of individuals. Materials include a study guide, instructor guide and accompanying presentation slides.

  • NASFAA Quick Reference Guides
  • NASFAA U Self-Study Guides

    NASFAA U Self-Study Guides are written for the independent learner. Each Self-Study Guide includes multiple lessons with a variety of exercises to reinforce each lesson.  Individuals do independent study and take quizzes in a traditional paper format (not online). Then you can qualify to take a test and earn a professional credential.

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    NASFAA U Online Courses are collaborative learning sessions bring minds and ideas together despite distances. Online courses help you become more proficient, more knowledgeable, and more valuable to your organization, to interact with your colleagues through required discussions, and offer you the option to work towards earning a professional credential from NASFAA. 

• Subtopics

  • Acceleration

    See Defaulted loans

  • Adverse credit

    See Borrower eligibility

  • Aggregate loan limits

    • Graduate/Professional

      • Direct Subsidized Loans

        • Limits

          • 685.203(d)(2)

        • Loss of subsidized eligibility on/after 7/1/12

          • GEN-11-16

        • Prior to 7/1/12

          • 685.203(a)(5)

      • Direct Unsubsidized Loans

        • 685.203(e)(3)

      • PLUS

        • 685.203(g)

    • NSLDS information

      • General

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

      • Calculating unsubsidized aggregate loan amounts

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • PLUS

      • 685.203(g)

    • Summary chart

      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5
      • NASFAA Student Aid Quick Reference Sheet – 2019-20
      • NASFAA Student Aid Quick Reference Sheet – 2018-19

    • Treatment of consolidation loans

      • 685.203(i)
      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Treatment of converted TEACH Grants

      • 685.203(k)

    • Undergraduate

      • Direct Subsidized Loans

        • 685.203(d)(1)

      • Direct Unsubsidized Loans

        • Dependent undergraduate student

          • 685.203(e)(1)

        • Dependent student whose parent cannot borrow PLUS

          • 685.203(e)(2)
          • 2019-20 FSA Handbook, Vol. 3, Ch. 5
          • 2018-19 FSA Handbook, Vol. 3, Ch. 5

        • Independent undergraduate student

          • 685.203(e)(2)

  • Annual loan limits

    • Grade level progression

      • General information

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

      • Grade level changes during academic year

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

      • New annual amount for same grade level

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

      • Remedial work

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

      • Transfer student’s grade level classification

        • 2019-20 FSA Handbook, Vol. 3, Ch. 5
        • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Graduate/Professional students

      • Direct Subsidized Loans

        • Limits

          • 685.203(d)(2)

        • Loss of subsidized eligibility on/after 7/1/12

          • GEN-11-16

        • Prior to 7/1/12

          • 685.203(a)(5)

      • Direct Unsubsidized Loans

        • 685.203(b)(2)(iii)
        • 685.203(c)(1)(i)
        • 685.203(c)(2)(v)

      • PLUS

        • 685.203(f)

    • Health professions students

      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Loan limit period (period to which loan limit applies)

      • 685.203(h)

    • Loan limit progression [Scheduled Academic Year (SAY) and Borrower Based Academic Year (BBAY)]

      • 685.303(e)
      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Maximum loan amount (need limitation)

      • 685.203(j)

    • PLUS

      • 685.203(f)

    • Preparatory coursework

      • Direct Subsidized Loans

        • 685.203(a)(6)

      • Direct Unsubsidized Loans

        • 685.203(c)(2)(vi)

    • Students returning for same or lower credential

      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Summary chart

      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5
      • NASFAA Student Aid Quick Reference Sheet – 2019-20
      • NASFAA Student Aid Quick Reference Sheet – 2018-19

    • Teacher certification (postbaccalaureate)

      • Direct Subsidized Loans

        • 685.203(a)(7)

      • Direct Unsubsidized Loans

        • 685.203(c)(2)(vii)

    • Transfer student

      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Treatment of converted TEACH Grants

      • 685.203(k)

    • Undergraduate students

      • First year

        • Direct Subsidized Loans

          • 685.203(a)(1)
          • 685.203(a)(8)
          • 685.203(a)(9)(i)

        • Direct Unsubsidized Loans

          • Dependent student

            • 685.203(b)(1)

          • Dependent student whose parent cannot borrow PLUS

            • 685.203(c)(1)
            • 685.203(c)(2)(i)
            • 685.203(c)(2)(viii)
            • 685.203(c)(2)(ix)(A)
            • 685.203(c)(3)

          • Independent undergraduate student

            • 685.203(b)(2)
            • 685.203(c)(1)
            • 685.203(c)(2)(i)
            • 685.203(c)(2)(viii)
            • 685.203(c)(2)(ix)(A)

      • Second year

        • Direct Subsidized Loans

          • 685.203(a)(2)
          • 685.203(a)(9)(ii)

        • Direct Unsubsidized Loans

          • Dependent student

            • 685.203(b)(1)

          • Dependent student whose parent cannot borrow PLUS

            • 685.203(b)(2)
            • 685.203(c)(1)
            • 685.203(c)(2)(ii)
            • 685.203(c)(2)(ix)(B)
            • 685.203(c)(3)

          • Independent undergraduate student

            • 685.203(b)(2)
            • 685.203(c)(1)(i)
            • 685.203(c)(2)(ii)
            • 685.203(c)(2)(ix)(B)

      • Third year through end of undergraduate program (including upper division programs, i.e., programs requiring an associate or baccalaureate for admission)

        • Direct Subsidized Loans

          • 685.203(a)(3)
          • 685.203(a)(4)

        • Direct Unsubsidized Loans

          • Dependent student

            • 685.203(b)(1)

          • Dependent student whose parent cannot borrow PLUS

            • 685.203(c)(1)
            • 685.203(c)(2)(iii)
            • 685.203(c)(2)(iv)
            • 685.203(c)(3)

          • Independent undergraduate student

            • 685.203(b)(2)
            • 685.203(c)(1)(i)
            • 685.203(c)(2)(iii)
            • 685.203(c)(2)(iv)

  • Application of payments

    • Application of prepayments

      • 685.211(a)(3)

    • Application of refunds and returns of Title IV funds from schools

      • 685.211(c)

    • Order of application for scheduled payments

      • 685.211(a)(1)

    • Order of application under income-based repayment

      • 685.221(c)

    • Order of application under PAYE repayment

      • 685.209(a)(3)

    • Order of application under REPAYE repayment

      • 685.209(c)

    • Prepayment without penalty

      • 685.211(a)(2)

  • Attendance at multiple schools during same period

    • 2019-20 FSA Handbook, Vol. 3, Ch. 5
    • 2018-19 FSA Handbook, Vol. 3, Ch. 5

  • Authority to pay refund or return of funds to ED on behalf of borrower

    • 685.306

  • Borrower defenses against collection of a loan and school liability

    • 685.206(c)
    • Electronic Announcement, 3/15/19

  • Borrower eligibility

    • Parent borrower of PLUS loans

      • Adverse credit history

        • General rules

          • 685.200(c)(1)(vii)
          • Federal Register, 1/14/15, pp. 1848 to 1849
          • Federal Register, 10/23/14, pp. 63319 to 33321
          • Electronic Announcement, 1/27/15
          • 2019-20 FSA Handbook, Vol. 1, Ch. 6
          • 2018-19 FSA Handbook, Vol. 1, Ch. 6

        • Definition of endorser

          • 685.102(b)

      • Borrowing on behalf of an eligible dependent undergraduate student

        • 685.200(c)(2)

      • Citizenship/residency

        • 668.33
        • 685.200(c)(1)(iii)

      • Default on Title IV loans

        • General rules

          • 668.32(g)(1)
          • 685.200(c)(2)(iv)
          • 685.200(d)

        • Definition of satisfactory repayment arrangement

          • 685.102(b)

      • Disability cancellation of previous loan

        • 685.200(a)(1)(iv)
        • 685.200(c)(1)(vi)

      • Fraudulently obtained Title IV funds

        • 685.200(c)(2)(vii)

      • Overpayment of Title IV funds

        • 668.32(g)(4)
        • 685.200(c)(2)(iv)

      • Parent (definition and qualification to borrow)

        • 685.200(c)(2)
        • GEN-14-14
        • 2019-20 FSA Handbook, Vol. 1, Ch. 6
        • 2018-19 FSA Handbook, Vol. 1, Ch. 6

      • Social Security number

        • 685.200(c)(2)(ii)

      • Statement of Educational Purpose

        • 668.32(h)
        • 685.200(c)(2)(v)

    • Student borrower

      See top list entry for Student Eligibility

  • Code of conduct

    • 668.14(b)(27)
    • 2018-19 FSA Handbook, Vol. 2, Ch. 3

  • Collection charges

    • 685.202(e)
    • 685.211(d)(2)

  • Consolidation

    • General rules

      • 685.220

    • Interest rate

      • 685.202(a)(10)
      • 685.220(g)

    • Loans eligible for consolidation

      • 685.220(b)

  • Defaulted loans

    • Acceleration

      • 685.211(d)(1)

    • Collection actions

      • 685.211(d)(3)

    • Eligibility for deferment

      • 685.204(a)(3)

    • Failure to repay in response to immediate demand letter

      • 685.211(e)(3)

    • Satisfactory repayment arrangements

      • 685.102(b)

  • Deferment

    See also In-school status of student

    • Additional deferments for borrowers with loans made prior to 7/1/93

      • 682.210(b)
      • 685.204(j)

    • Borrower’s responsibility to request and document deferment

      • 685.204(a)(4)

    • Cancer Treatment

      • Electronic Announcement, 8/22/19

    • Economic hardship

      • 685.204(g)

    • Graduate fellowship

      • General rules

        • 685.204(d)

      • Medical internship or residency

        • 685.204(d)(2)(i)(C)

    • In-school deferment

      • General rules

        • 685.204(b)

      • Medical internship or residency

        • 685.204(b)(1)(ii)

      • Methods for identifying or conveying deferment status

        • 685.204(b)(2)

    • Military service

      See also Post active duty deferment

      • General rules

        • 685.204(h)

      • Borrower’s representative

        • 685.204(a)(4)(ii)
        • 685.204(h)(3)

      • National Guard

        • 685.204(h)(5)(ii)

    • Payment of interest during deferment of Direct Unsubsidized or PLUS loans

      • 685.204(a)(2)

    • Post active duty deferment

      • 685.204(i)
      • GEN-17-03

    • Rehabilitation training

      • 685.204(e)

    • Unemployment

      • 685.204(f)

  • Denial or reduction of Direct Loans

    See top list entry for Professional Judgment

  • Dependent student whose parents cannot borrow PLUS: qualifying circumstances

    See also Annual loan limits

    • 685.203(c)(1)(ii), (iii)
    • GEN-11-07
    • 2019-20 FSA Handbook, Vol. 3, Ch. 5
    • 2018-19 FSA Handbook, Vol. 3, Ch. 5

  • Determination of Direct Unsubsidized Loan eligibility for Grad PLUS applicants and notification of eligibility

    • 685.301(a)(3)

  • Disbursement

    See top list entries for Cash Management and Disbursement

  • Discharge, cancellation, forgiveness

    • Bankruptcy

      • 685.212(c)

    • Closed schools

      • 685.212(d)
      • 685.214
      • Electronic Announcement, 12/13/18

    • Death

      • 685.212(a)
      • 2018-19 FSA Handbook, Appendix C
      • 2017-18 FSA Handbook, Appendix C

    • Disposition of payments received after discharge approval

      • 685.212(g)

    • False certification and unauthorized disbursement

      • 685.212(e)
      • 685.215

    • Public Service Loan Forgiveness

      • 685.212(i)
      • 685.219

    • September 11 survivors discharge

      • 685.212(j)
      • 685.218

    • Teacher loan forgiveness

      • 685.212(h)
      • 685.217

    • Total and permanent disability (TPD)

      • 685.212(b)
      • 685.213
      • Electronic Announcement, 4/17/18
      • 2019-20 FSA Handbook, Vol. 1, Ch. 3
      • 2018-19 FSA Handbook, Vol. 1, Ch. 3
      • FSA TPD Resource Center webpage

      • Physician certification

        • 685.213(b)(2)

    • Unpaid refunds

      • 685.212(f)
      • 685.216

  • Enrollment reporting

    • 685.309(b)
    • GEN-17-08
    • GEN-14-17
    • GEN-14-07
    • 2018-19 FSA Handbook, Vol. 2, Ch. 3
    • 2017-18 FSA Handbook, Vol. 2, Ch. 3
    • NSLDS Enrollment Reporting Guide (November 2018)

  • Entrance counseling

    See top list entry for Loan Counseling

  • Exit counseling

    See top list entry for Loan Counseling

  • FAFSA requirement

    • Subsidized and unsubsidized Direct Loans

      • 685.200(a)(1)

    • Grad PLUS

      • 685.200(b)(2)

    • Parent PLUS

      • GEN-11-07

  • Failure to begin attendance

    • GEN-13-02
    • 2018-19 FSA Handbook, Vol. 4, Ch. 3
    • 2017-18 FSA Handbook, Vol. 4, Ch. 3

  • Forbearance

    • General conditions and process

      • 685.205(a)

    • Administrative

      • 685.205(b)

    • Length of forbearance period

      • 685.205(c)

  • Grace period

    • Active duty military exclusion

      • 685.207(b)(2)(ii)
      • 685.207(c)(2)(ii)

    • Correspondence programs

      • 685.207(f)

    • Definition

      • 685.102(b)

    • Grad PLUS

      • 685.204(c)(1)

    • Parent PLUS

      • 685.204(c)(2)(ii)

    • Subsidized loan

      • 685.207(b)(2)

  • Ineligible borrower (due to borrower or student action)

    • General rules

      • 685.211(e)

    • Immediate demand letter

      • 685.211(e)(2)

  • In-school status of student

    • Parent PLUS

      • 685.204(c)(2)(i)

    • Subsidized loan

      • 685.207(b)(1)

    • Unsubsidized loan

      • 685.207(c)(1)

  • Interest capitalization

    • 685.202(b)

  • Interest rate

    • As calculated

      • 2019-20

        • Electronic Announcement, 5/23/19

      • 2018-19

        • Electronic Announcement, 5/18/18

    • Formulas used to calculate

      • 7/1/2013 and later, Undergraduate Direct Subsidized and Unsubsidized Loans

        • 685.202(a)(7)
        • Electronic Announcement, 8/9/13, Attachment

      • 7/1/2013 and later, Grad/professional Direct Unsubsidized Loans

        • 685.202(a)(8)
        • Electronic Announcement, 8/9/13, Attachment

      • 7/1/2006 – 6/30/2013, Undergraduate Direct Subsidized Loans

        • 685.202(a)(4)

      • 7/1/2006 – 6/30/2013, Direct Unsubsidized Loans

        • 685.202(a)(6)

      • 7/1/2006 – 6/30/2012, Grad/professional Direct Subsidized Loans

        • 685.202(a)(5)

      • 7/1/1998 – 6/30/2006, Direct Subsidized and Direct Unsubsidized Loans

        • 685.202(a)(3)

      • Consolidation loans

        • 685.202(a)(10)
        • Electronic Announcement, 8/9/13, Attachment

      • PLUS Loans

        • 685.202(a)(9)

    • Servicemembers Civil Relief Act (SCRA)

      • 685.202(a)(11)
      • GEN-16-08
      • U.S. Department of Justice website

  • Late charge

    • 685.202(d)

  • Loan fees

    • 685.202(c)
    • 685.301(a)(9)
    • GEN-16-11
    • Electronic Announcement, 5/30/19
    • Electronic Announcement, 6/6/18

  • Loan period

    • COD Reporting

      • GEN-13-13
      • Electronic Announcement, 5/13/16
      • Electronic Announcement, 4/20/15
      • Electronic Announcement, 11/21/14

    • Maximum loan period

      • 685.301(a)(10)(iv)
      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Minimum loan period

      • 685.301(a)(10)(i)
      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • New program

      • 685.301(a)(10)(iii)

    • Transfer student

      • 685.301(a)(10)(ii)
      • 2019-20 FSA Handbook, Vol. 3, Ch. 3
      • 2018-19 FSA Handbook, Vol. 3, Ch. 3

  • Minimum Direct Subsidized Loan amount

    • 685.301(a)(7)

  • Origination rules, general

    See Professional Judgment

    • 685.301

    • COD origination fee guidance

      • Electronic Announcement, 5/30/19

    • Refusal to originate

      • 685.301(a)(8)(i),(ii)
      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

  • Program participation choices for school

    • GEN-11-07

  • Program year closeout

    See Cash Management

  • Promissory note

    • Completion prior to disbursement

      • 685.303(b)(1)

    • Handling

      • 685.301(b)

    • Informed Borrowing Confirmation

      • Electronic Announcement, 11/21/19

  • Proration of loans for remaining periods and programs of less than an academic year in length

    • Prorated limits

      See also Annual Loan Limits for Undergraduate students

      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Recalculation for change in credits

      • 685.301(a)(5)(ii)

  • Reconciliation

    • 685.300(b)(5)
    • Electronic Announcement, 11/19/19
    • Electronic Announcement, 12/21/17
    • Electronic Announcement, 12/17/15

  • Rehabilitation of defaulted loans

    • 685.211(f)

  • Repayment incentive

    • 685.211(b)

  • Repayment period, beginning of

    See also Repayment plans

    • Consolidation loan

      • 685.207(e)

    • Exclusion of deferments and forbearances from repayment period

      • 685.208(a)(5)

    • First payment due date

      • 685.207(a)(3)

    • PLUS loan

      • 685.207(d)

    • Subsidized loan

      • 685.207(b)(4)

    • Unsubsidized loan

      • 685.207(c)(4)

  • Repayment plans

    • Alternative repayment plan

      • 685.208(l)

    • Applicability of selected plan to all Direct Loans of borrower

      • 685.208(a)(4)

    • Changing repayment plans

      • 685.210(b)

    • Choice of plan

      • 685.210

    • Defaulted loans

      • 685.211(d)(3)(ii)

    • Extended repayment plan

      • 685.208(d)-(e)
      • 685.208(i)

    • Graduated repayment plan

      • 685.208(f)-(j)

    • Income-based repayment plan

      • General rules

        • 685.221

      • Eligibility documentation, verification, and notifications

        • 685.221(e)
        • Federal Register, 9/29/17, pp. 45465 to 45471

      • Interest forgiveness

        • 685.221(b)(3)

      • Loan forgiveness after designated years of repayment

        • 685.221(f)

      • Monthly payment limit

        • 685.221(b)(1)

      • Partial financial hardship

        • 685.221(a)(5)

    • Income-contingent repayment plan

      • General rules

        • 685.209(b)

      • Eligibility documentation

        • 685.209(b)(3)(i)
        • 685.209(b)(3)(vi)
        • Federal Register, 9/29/17, pp. 45465 to 45471

      • Interest capitalization limitation

        • 685.209(b)(3)(iv)

      • Loan forgiveness after designated years of repayment

        • 685.209(b)(3)(iii)(D)

      • Monthly repayment

        • 685.208(k)

      • Repayment amount calculation

        • 685.209(b)(1)

      • Repayment period

        • 685.209(b)(3)(iii)

    • Minimum payment of accrued interest

      • 685.208(a)(2)(v)
      • 685.208(f)(3)

    • Pay as you earn (PAYE) repayment plan

      • General rules

        • 685.209(a)

      • Eligibility documentation, verification, and notifications

        • 685.209(a)(5)
        • Federal Register, 9/29/17, pp. 45465 to 45471

      • Interest forgiveness

        • 685.209(a)(2)(iii)

      • Loan forgiveness after designated years of repayment

        • 685.209(a)(6)

      • Monthly payment limit

        • 685.209(a)(2)(i)

      • Partial financial hardship

        • 685.209(a)(1)(v)

      • Repayment period

        • 685.209(a)(2)(vi)

    • Plans available to Direct Subsidized or Unsubsidized Loan borrowers who enter repayment before 7/1/2006

      • 685.208(a)(1)(i)

    • Plans available to Direct PLUS borrowers who enter repayment before 7/1/2006

      • 685.208(a)(1)(ii)

    • Plans available to Direct Subsidized, Unsubsidized, or Grad PLUS borrowers who enter repayment on or after 7/1/2006

      • 685.208(a)(2)(i)

    • Plans available to parent PLUS borrowers who enter repayment on or after 7/1/2006

      • 685.208(a)(2)(ii)

    • Plans available to Direct Consolidation Loan borrowers who enter repayment on or after 7/1/2006

      • 685.208(a)(2)(iii), (iv)

    • Revised Pay As You Earn (REPAYE) repayment plan

      • General rules

        • 685.209(c)

      • Eligibility documentation, verification, and notifications

        • 685.209(c)(4)
        • Federal Register, 9/29/17, pp. 45465 to 45471
        • Electronic Announcement, 12/17/15

      • Interest forgiveness

        • 685.209(c)(2)(iii)

      • Loan forgiveness after designated years of repayment

        • 685.209(c)(5)

      • Monthly payment limit

        • 685.209(c)(2)

      • Repayment period

        • 685.209(c)(2)(ii)

    • Spousal information for income-based, income-contingent, and pay as you earn plans

      • GEN-14-14

    • Standard repayment plan

      • 685.208(b), (c)
      • 685.208(j)

  • Replacement of EFC with loan proceeds

    • 685.200(e)

  • Replacement of subsidized loan with unsubsidized loan

    • 2018-19 FSA Handbook, Vol. 4, Ch. 3
    • 2017-18 FSA Handbook, Vol. 4, Ch. 3

  • Subsidy

    • Counseling information

      • 685.304(a)(6)(xiii)(C)
      • 685.304(b)(4)(xii)(C)(2)

    • Limitation on eligibility for subsidy (150% limit)

      • 685.200(f)
      • Federal Register, 1/17/14, Preamble to the Final Rule
      • 150% Direct Subsidized Loan Limit: Electronic Announcement, #20
      • 150% Direct Subsidized Loan Limit: Electronic Announcement #11
      • 150% Direct Subsidized Loan Limit - Frequently Asked Questions
      • 2019-20 FSA Handbook, Vol. 3, Ch. 5
      • 2018-19 FSA Handbook, Vol. 3, Ch. 5

    • Periods subsidized

      • 685.100(a)(1)
      • 685.102(b), Federal Direct Consolidation Loan Program (2)
      • 685.102(b), Federal Direct Stafford/Ford Loan Program
      • 685.207(b)(3)
      • 685.207(c)(3)

    • Reporting

      • Electronic Announcement, 4/20/17
      • 150% Direct Subsidized Loan Limit: Electronic Announcement #22
      • 150% Direct Subsidized Loan Limit: Electronic Announcement, #19

  • Unenforceable loans due to school action

    • 685.308

  • Withdrawal date

    • 685.305